Plus a Breakdown of Income, Expenses, and Profits
Today we are breaking down these infographics shared on my instagram, and sharing how we grossed over $50,000 in 2 months with just 2 Airbnb properties...
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FULL EPISODE TRANSCRIPT:
Erica Daily 0:16
Hey there, welcome to the more podcast. My name is Erica Daly and along with my co host Dr. Raf, we are going to expand your mind when it comes to the pursuit of wealth and freedom. On this podcast, we're going to share stories, ideas, and examples from our real life- In order to help you make more money and have more freedom, so you have even more time to do what you love. Speaking of which, let's jump right into today's episode.
Unknown Speaker 0:43
Wow, you guys, I am so so frickin happy right now. We just looked at our numbers for the last two months from our Airbnb s. And they are insane. I mean, I'm talking like numbers that would blow your mind because they're blowing mine. Erica, what do you think about his last two months of Airbnb? I mean, it's been pretty crazy. Do you want to tell them what the number is? Yeah, I don't want to take all the thunder from you. Why don't you say the number? Okay, well, first, let me preface by telling you guys where we're actually at right now. Because depending on when you're listening to this, you might not know how many properties have or where they're at. So right now, we have one property in San Diego that we arbitrage meaning we do not own it. And then we have one property in Indio, California that we do own. So these numbers are going to be from two properties for two different months. And by the way, I do think this is important as well. Each house has three bedrooms, and two bathrooms. One of them has two and a half. So not like a huge house either. So what our numbers you tell him? Okay, well, in the last two months, adding July and August together, our gross revenue from Airbnb from two properties is $51,910. That is 90 bucks short of $52,000. That's insane. That's insane. So July's revenue for the two houses was $30,325, which by the way, was the first time we broke 30,000, which was super exciting. And then in August, is actually back to school months is actually quite a slow month, but we still did 21,580 $5,000 in you guys to sell, you know 21,000 in a month or two properties is just a bit above about around what we've been averaging. So that's not a crazy number. We've been doing over 20,000 per month pretty regularly in general. And to add a little perspective to this story you guys every short term rental every area has an on season and offseason there right now, out in the desert. It's so stinking hot. It's actually our offseason, and we're still hitting numbers like this. It's crazy out there. The on season starts in September. So it's coming up really next month or this month now and goes all the way until April and ends with that trifecta of Coachella we can one we can do and stagecoach which I am beyond excited for so realize that every area has on and off seasons. And this is just as alignment of an on season in San Diego and offseason in India that made for our biggest month ever. I mean, I would actually agree and disagree with you because San Diego really doesn't have a quote unquote offseason. There are of course, slower times and I think back to school in general. Across the board. People aren't really going on vacation, but Indio definitely has more of an offseason because the summers it literally gets to like 120 degrees, but that's also why we put a pool in and we were actually shocked at how much of an offseason we didn't have considering our biggest month was smack dab in the middle of summer. Okay, okay. Okay, babe, I hear you and I'm gonna say this one time and one time only. on record. You are right.
Erica Daily 4:01
Okay, so I'm actually not really the numbers person Rafael is so I am want him to actually go over our actual expenses for the month for both houses. So why don't you start with July? I know the total expenses for July was $7,499. But if you want to break down what those actually were? Yeah, so for our house in the desert, we call it the Griffin. The mortgage and taxes are 2155 to 2001 and $55. The Hoa was 286 bucks, the insurance was $211. And that sounds kind of high for insurance, but we use a really cool insurance that will actually place the last income the house generates if something happens to the house. So it's a bit higher for that but it fully protects us in all aspects. So we think is well worth it. And then we have the cost of the pool loan we took out which is 590 bucks. We have the maintenance on the pool in the yard and landscaping which is $180 then
Dr. Raf 5:00
We have our gas bill, which is $35.75. Our electric was $288. Our water which is $43, or trash, which is 30. Internet, which is 80. And then supplies, we use a use a ballpark average number of 150 per month. And we found that by taking our overall supply costs for the year and divided by 12, so 150 for the expenses for supplies that month, which gave us a total expense cost for the Griffin out in the desert of $4,049.47.
Unknown Speaker 5:34
Okay, and then what about our San Diego house, which is the urban farmhouse, we call it the Hensley or the urban farmhouse and for July, the rent there because then we arbitrage that we rent that from the landlord knowing well, that we will rent that out as short term rental, we agreed upon that that term, they're okay with that. Make sure you guys always get the okay if you are going to do that do not be skeezy do not go behind someone's back, that will never never end well. So our rent for that property went up this year, that's up to 2924 to $2,924. The insurance just renter's insurance out there, which is only $12. The SD Genie our gas electric bill was high because it's hot here in San Diego. Now it's $293, the internet was 70 bucks supplies or 150 bucks gave us a total expense of $3,449.34. Awesome. And then the only other thing that we calculate in our expenses is going to be our cleaning fees. And so our cleaning fees for both houses for July were $3,000. And something just to note, you guys, when Airbnb pays you out, they include the cleaning fee in your revenue. So that is included in our $30,325 revenue for July. But that is all paid for by the guest, as you guys know if you've ever stayed in Airbnb. So the profit for July was $19,826. And I'm not going to have you break down the expenses for August because people can, you know, you just you just heard the example for July. But the actual expenses for August, were $7,566 think it was a little bit more expensive, because it's a little bit hotter, and people use the AC a little bit more. And then our cleaning fees were actually less because we didn't have as many checkouts and we paid out 2400 and cleaning fees. So our profit for August was $11,619. But here's the crazy part you guys for July and August, our overall profit was $31,445. And what blows my mind is that as higher than the national average for an entire year salary for people? Really Yeah. And I made that in two months. And I work very, very part time doing it. That's why I just freakin love this. And I think everyone should have one. But well, I think another cool thing too. And if you guys want to get a bit altruistic with this, not only are we able to create a really cool income for ourselves to help, then donate more to churches or charities or things that we like and invest into more real estate and grow that idea of wealth. So you can support our family going forward and create not just money for ourselves, but for our family and for generations to come. But on top of that, in those two months, we paid out just under 50 $500 in cleaning fees. So take that times that by six, what is that 5000. That's about $31,000 in cleaning fees, that's a net support someone like if you're if you're a house cleaner, and you have one of our Airbnb is on your roster, you don't need a couple more of those to make a really good living for the year. So not only are we able to produce a lot of money for ourselves and for, for us to reinvest or to give away. But we're actually able to create some jobs to people who then get the benefit of that too. Yeah, it's actually really cool. I know both cleaning teams have grown since taking us on and then now we're about to have two more properties that they're going to be cleaning. It's just really cool thing to be able to do. And I will know. You know we made 31,000 but none of that is getting spent. We were very good with our money. Because now we're able to buy a house which is great. So we reinvest everything so well. You did buy a pair of shoes. I did a couple of new shirts from Forever 21. But besides that, yeah, Abercrombie and Fitch. Oh, sorry, wrong place.
Erica Daily 9:32
All right, you guys. Well, we just wanted to share those numbers with you because that was a really cool last two months, and we thought you guys would be really inspired by that. And you guys should have actually seen it. Erica doing whatever she can whenever tips and tricks she has to help guests extend stays or get more bookings to cross that $30,000 revenue number in one month was awesome and hilarious and it was a proud fiance moment for me. All in one
Dr. Raf 10:00
I was actually on the golf course, playing terribly my dad, when I got the text America saying we did it, we crossed $30,000 in one month. And that was a huge, like mental barrier hurdle that we got over. And I can only understand how much faster that numbers gonna grow. We added more and more properties. You guys, if you ever want to be inspired, ask us about our five year plan. It's pretty big, but it's gonna be pretty awesome. Yeah, I mean, I think we should do an episode on that as well. But we have a lot of other things to explain first. So. All right, we'll see you guys next time.
Erica Daily 10:35
Thank you so much for listening. If you liked what you heard, it goes a long way if you could take just 30 seconds and leave us a five star review. And if you have friends who also want more out of life, make sure to share this podcast with them. And don't forget to follow along on social media to see what we are currently up to. I'm probably renovating a house as we speak on my stories in sharing that with you guys. And until next time, keep striving for more